MSP HIKES NEED TO BE SUPPLEMENTED BY HIGHER YIELDS: EXPERTS

The Minimum Support Price (MSP) of rabi crops for the 2022-23 marketing season, which will start from April, was announced on Wednesday. The maximum rise was reserved for oilseeds and pulses, while the least increase was for cereals, in this case wheat. But some experts feel that just increasing the MSP without a rise in yields and without a big rise in procurement doesn’t serve the purpose. “Increasing MSP is good but it has its own limitations as beyond a point it will start pinching the consumers. Therefore, MSP hikes need to be supplemented by rising yields which can happen through better seeds and better farming practices,” said Bimal Kothari, vicechairman of Indian Pulses and Grains Association (IPGA). Meanwhile, in the Rabi 2022-23 report, the CACP — which recommends the price — said the cost of production data for crops comes with a two-year lag, which makes projections difficult. Business Standard looks at the MSP hikes of main rabi crops in the last 10 years and their percentage rise compared to previous years.